NIO Inc. (NIO) closed at $10.81 in the latest trading session, marking a +1.69% move from the prior day. The stock outpaced the S&P 500’s daily loss of 0.74%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq lost 0.01%.
Coming into today, shares of the company had lost 38.16% in the past month. In that same time, the Auto-Tires-Trucks sector lost 10.38%, while the S&P 500 gained 4.58%.
Investors will be hoping for strength from NIO Inc. as it approaches its next earnings release.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.69 per share and revenue of $8.19 billion, which would represent changes of +34.29% and +46.12%, respectively, from the prior year.
Any recent changes to analyst estimates for NIO Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 13.63% higher within the past month. NIO Inc. currently has a Zacks Rank of #3 (Hold).
The Automotive – Foreign industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 61, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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